viewArcadia Biosciences Inc

Arcadia Biosciences to acquire industrial hemp breeding and seed company, Industrial Seed Innovations

Arcadia said ISI's Rogue, Deschutes and Umpqua hemp seed varieties will become part of its portfolio

Arcadia Biosciences Inc - Arcadia Biosciences to acquire Industrial Seed Innovations
The company will also acquire ISI's GoodHemp line of hemp seeds, transplants, flowers and extracts

Arcadia Biosciences Inc (NASDAQ:RKDA) said it has entered into a binding term sheet to acquire the commercial and genetic assets of Oregon-based industrial hemp breeding and seed company Industrial Seed Innovations (ISI).

The firm, which focuses on enhancing the quality and nutritional value of crops and food ingredients, said ISI’s Rogue, Deschutes and Umpqua seed varieties will become part of Arcadia's portfolio, alongside the company's GoodHemp line of genetically superior hemp seeds, transplants, flowers and extracts.

READ: Arcadia Biosciences raises $6.8M via warrants to fund hemp division opportunities

Arcadia said the acquisition will “significantly broaden and accelerate” the commercialization of its hemp-related breeding platform, as well as establish a breeding research and development facility in the Pacific Northwest, a key hemp production area.

The acquisition is expected to be neutral to accretive to cash flow from operations in 2020 and meaningfully accretive in 2021. The transaction is scheduled to close in the third quarter of 2020, although the financial details have not been disclosed.

In a statement, Arcadia’s president and chief executive Matthew Plavan said: "Industrial Seed Innovations brings tremendous talent, an impressive intellectual property and genetics portfolio and a solid and synergistic customer base to Arcadia.

"This transaction will strengthen our hemp breeding and seed production capabilities, augment and leverage our proprietary ArcaTech discovery platform and further position us as a leader in delivering high-value, premium hemp seeds."

"With the additional capital secured last month to underwrite our strategy to accelerate growth through the acquisition of assets, this transaction will add value and speed to our hemp and hemp products business, underscoring our ambitious plans for market leadership", Plavan added.

Contact the author at calum@proactiveinvestors.com

Follow him on Twitter @Cal_Proac

Quick facts: Arcadia Biosciences Inc


Price: 2.04 USD

Market Cap: $45.23 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Arcadia Biosciences describes expected synergies with its recent CBD-focused...

Arcadia Biosciences Inc (NASDAQ:RKDA) (FRA:17DN) CEO Matt Plavan describes to Proactive why the group recently acquired CBD-focused Lief Holdings, LLC and Live Zola, LLC. Plavan says in addition to bringing in a 'significant amount of recurring revenue' he sees synergies within the two groups,...

on 05/19/2021

2 min read